A star quant just left JPMorgan for Citigroup in one of the most fiercely competitive hiring grounds on Wall Street
- Citigroup has hired a star quant researcher from JPMorgan Chase. Quantitative research is one of the most scarce and coveted pools of talent on Wall Street.
- After 13 years at JPMorgan, Anissa Dhouibi joined Citi in January as global head of Equities and Securities Services Quantitative Analysis.
- As Wall Street trading operations have grown increasingly electronic and automated, banks have ratcheted up the competition for top quantitative and data science talent.
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A star quant researcher in JPMorgan Chase's global equities division just left the firm to join Citigroup - adding a key senior leader for Citi in one of the most coveted and scarce pools of talent on Wall Street.
Anissa Dhouibi, the global head of Investor Services Quantitative Research at JPMorgan, left the bank in January after nearly 13 years to join Citigroup, according to two people familiar with the matter.
Dhouibi joined Citi this month as global head of Equities and Securities Services Quantitative Analysis, helping fill the void from the departure of senior quant Mark Gibbs to a division of the hedge fund Brevan Howard last summer.
Representatives for JPMorgan and Citi declined to comment.
Dhouibi, who was promoted to managing director in 2016, helped JPMorgan develop models and algorithms to price and manage risk, trade assets, and optimize inventory, according to a bio on the company's website.
Her team focused on delta-one equity derivatives, prime finance, and securities services businesses, according to her LinkedIn profile, which has been updated to reflect her new role.
She'll have a broader remit at Citigroup, which merged its stock trading and securities services divisions last summer.
As Wall Street trading operations have grown increasingly electronic and automated, banks have ratcheted up the competition for top quantitative and data science talent.
An MD-level quant typically makes between $650,000 to $1.2 million at a large investment bank, according to a research report from Wall Street recruiting firm Selby Jennings.
But the competition for such talent isn't confined to the big banks. A freshly graduated PhD with a science, technology, engineering, and mathematics background can earn $300,000 to $400,000 in total compensation right off the bat at a top-tier hedge fund, proprietary trading firm, or at a tech giant like Facebook or Google, according to the report.
The field has traditionally been dominated by men, with women comprising less than 10% of Wall Street's quant roles, according to Selby Jennings.